The Housing Industry Association's Tim Reardon says it's 'absolutely the wrong time' for Labor to introduce its controversial negative gearing policy. Labor plans to restrict negative gearing to new homes and reduce capital gains tax concessions if it wins the next federal election, claiming the policy will raise $32 billion over the next decade.
The Opposition has had to fend off claims on Wednesday that it inflated its negative gearing savings by up to $8 billion, which Shadow Treasurer Chris Bowen denies. Mr Reardon told Sky News that regardless of how much revenue the policy will raise, if Labor wants to address housing affordability, it should increase supply, rather than drive down prices.
With HIA, would there ever be a good time?
Well there's a surprise. The HIA doesn't want any changes to negative gearing rules. Lol.
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Coalition to blame for fall in house prices: Husic | Sky News AustraliaLabor frontbencher Ed Husic has told Sky News the Coalition is completely to blame for the housing market slump. \n\nUnder Labor, Mr Husic says Australians will see a resurgence in new home construction, more jobs, and less influence from investors who make it harder for first home buyers. \n\nThe Labor MP also shared his doubts over Adani, questioning the ‘arm-twisting exercise’ which has seen ministers threaten to quit and pressure other members publicly over the proposed coal mine. \n\n Yes they had a big Tax policy they dropped the libs and all that infighting really got little done at the expense of investors. Prices dropped on the Libs watch. Well they are the government What a ///////
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Assistant treasurer accuses Labor of lying about negative gearing numbers | Sky News AustraliaAssistant Treasurer Stuart Robert is the latest Coalition MP to accuse Chris Bowen of ‘lying’ about the data sets behind Labor’s negative gearing reforms.\n\nHis comments echo those of Treasurer Josh Frydenberg, who said Mr Bowen had been ‘caught out’ after the Australian Bureau of Statistics denied it had produced data showing that only seven per cent of property investors bought new homes.\n\nThe Shadow Treasurer has used those figures repeatedly to back his housing policy, but Mr Robert says the ABS ‘doesn’t collect the data that is purported to be relied upon’.\n\nMr Bowen is defending the costings, saying the source of the figures was the Parliamentary Budget Office, which had consulted with the ABS and the RBA over owner-occupier lending data.\n\n\n\n\n\n stuartrobertmp I don't trust Stuart with numbers. stuartrobertmp Remembering, Robert is the man who charges the tax payers $24,000 a month for internet access, who should we trust ! Robert ! I don't think so!!!!!!!! stuartrobertmp This has backfired already.... now you are pouring fuel on yourself! Embarrassing ! Kieran_Gilbert
Source: SkyNewsAust - 🏆 7. / 78 Read more »